News out this morning:
Looks like trading has been halted, 0 volume as of 11:00AM
Has anyone ever heard of R & R, I hope this won't become a Reg S deal.
Joe P
Lithium Technology Corporation Engages New York Investment Banking Firm For Private Placement
PR Newswire - May 07, 1998 08:00
LITH %CPR %OFR V%PRN P%PRN
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PLYMOUTH MEETING, Pa., May 7 /PRNewswire/ -- Lithium Technology
Corporation (the "Company" or "LTC") (OTC Bulletin Board: LITH) announced
today that it had engaged R & R Capital Group, Inc. as its exclusive
investment banker and corporate finance advisor. R & R Capital will assist
the Company in preparing and completing a proposed private placement of
approximately $20,000,000 of the Company's equity or debt securities.
Proceeds of the proposed offering are expected to be used for the Company's
51% investment in the Taiwan Joint Venture manufacturing plant, continuing
equipment scale-up at the Plymouth Meeting Manufacturing Plant, additional
working capital and general corporate purposes.
Company President David J. Cade said: "We are pleased to have the strong,
experienced, and enthusiastic R & R Capital team helping to raise capital on
our behalf. This private placement will enable us to take the next step in
executing our business plan and meeting the production needs of our OEM
customers here at the Plymouth Meeting plant and at our planned Joint Venture
plant in Taiwan."
R & R Capital Group, Inc. is an investment banking boutique specializing
in private placements and financial advisory services for middle market
clients.
Lithium Technology Corporation is developing a new generation of solid
state rechargeable batteries for portable electronics devices, such as
notebook computers and cell phones. The Company's patented and proprietary
technology uses high performance fibers in composite battery structures and
low cost web coating and handling processes for manufacturing. This
represents a significant benefit to the end-user in terms of longer equipment
run times and thinner, flatter, lighter-weight form factors.
The foregoing information contains forward-looking statements which
involve risks and uncertainties relating to such matters as financial
performance, technology development, capital raising, business prospects and
similar matters. A variety of factors could cause LTC's actual results and
experience to differ materially from anticipated results or other expectations
expressed in these forward-looking statements.
SOURCE Lithium Technology Corporation
/CONTACT: Joseph C. Calio III, Vice President of Sales and Marketing of
Lithium Technology, 610-940-6090, ext. 129, or Stanley Wunderlich,
800-625-2236, or John Harbaugh, 800-807-6388, Corporate Development
Consultants/
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